Staying positive in tough times

“Builders are also back to work on Phase 2 of St Modwen Park Lincoln, where two new warehouses are due to be completed by the end of Q3 2020 – 25,000 sq ft is already pre-let to DHL Parcels and we are in advanced discussions with an occupier for the 55,000 sq ft unit.  This sector is expected to go from strength to strength over coming months.”

During the past few weeks Banks Long & Co’s property management team has been busier than ever, dealing with dozens of landlord clients and an inevitable avalanche of requests from tenants, large and small.

“The team’s hands-on, professional approach means we have been able to continue helping Landlords over decisions on how to deal with rent and service charge payments, on an individual case-by-case basis. We are well-placed to deal with the anticipated pressure on the June quarter as tenants continue to seek help with their rental payments.

“We are actively lobbying the Government on behalf of our commercial property landlords who appear to have been overlooked in terms of national support. We have also been able to compare restructuring strategies with other landlords and their advisors.”

Banks Long & Co’s building consultancy team has continued working on a number of live projects, including applications which were on the brink of being submitted for planning permission when the virus hit the UK.

“I want to give credit to local authorities, such as the City of Lincoln and North Kesteven District Council, for reacting well to the lockdown by keeping their planning services running and registering and determining applications.  This will become a factor which will keep the economy going post Covid-19.”

Banks Long & Co is a member of the UK-wide group of independent commercial agents PAI (Property Agents Independent) and it continues to offer a full range of services, from valuations to the sale and letting of property, lease renewals and rent reviews expertise countrywide.

“PAI gives us access to information and initiatives which, in turn, have significantly assisted with the high level of advice we have been able to give to clients,” said Tim.